Thailand's SEC Approves Bitcoin ETF Fund for Wealthy Investors

The Securities and Exchange Commission (SEC) of Thailand has granted approval to One Asset Management (ONEAM) to launch a fund that invests in spot bitcoin exchange-traded funds (ETFs). The fund, named “One Bitcoin ETF Fund of Funds Unhedged Fund Not For Retail Investors (ONE-BTCETFOF-UI),” is accessible exclusively to institutional investors and high-net-worth individuals from May 31 through June 6. The Thai SEC approved the fund’s establishment on May 17. The One Bitcoin ETF Fund will invest in international ETFs with bitcoin exposure. According to its prospectus, the fund invests in two U.S. spot bitcoin ETFs: Blackrock’s Ishares Bitcoin Trust (IBIT) and Fidelity Wise Origin Bitcoin Fund (FBTC).